Metal Tiger strikes copper at Botswana Dome project
Metal Tiger and joint venture partner MOD Resources confirmed intersection of copper mineralisation at the first drillhole on the A4 Dome target at the T3 Dome Complex in Botswana.
AIM-traded resource investment firm Metal Tiger said the A4 Dome, which is the first of several domes at the T3 Project which are to be targeted, is approximately 5km long and is around 6km west of the established T3 Project.
Michael McNeilly, chief executive of Metal Tiger, said: “It is highly encouraging that the first drill hole to be drilled at the A4 Dome has intersected copper mineralisation, similar to T3, as predicted by the electromagnetic geophysics data modelling and interpretation.”
The T3 deposit was discovered in March 2016 and an indicative mine life of 10 years and average production rate of 21,800t per annum of copper and 665,000oz per annum of silver was released on 6 December 2016.
Metal Tiger has a 30% interest in the joint venture project, while MOD holds the remaining 70%.
The extracted drill core from the first hole at A4 still requires geological logging, sampling and assay results before the significance of the copper mineralisation at the site can be determined.
Meanwhile, the hole is also set to be deepened in order to test the Ngwako Pan Formation, while two further rigs will test other targets within the more structurally complex core of the A4 Dome.
“With the T3 Marker Unit intersected exactly as predicted by the geophysics we are confident that we can use the EM modelling as a vectoring tool in drill targeting the prospective units across the centre of the buried T4 Dome and elsewhere within the T3 Dome Complex. As this regional drilling programme continues to ramp-up we look forward to reporting more exciting developments,” said McNeilly.
As of 0835 BST, Metal Tiger’s shares were up 4.90% at 2.68p.